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How to Sell Your Home Quickly and For Top Dollar
Why do some people seem to be able to sell their homes in no time, and get more money than others in the neighborhood? It may be very important for you to know how to sell your home quickly and for top dollar.
There are some important steps that if taken, can greatly increase your odds of selling your home fast, and for more money than you might have thought.
There are several reasons why someone would want to know how to sell your home quickly and for top dollar. Job tranfer, job loss, divorce, death in family, the need for quick cash. or just to be done quickly with the entire selling process, which can be tiresome, and time consuming.
Whatever your reasons, it is possible to sell quickly, and get top money, if you follow these steps.
1. Find and Hire a Good Realtor
If you really want to know how to sell your home quickly and for top dollar, this is your most important step. Despite what you may have been told about how much money you can save by selling your house yourself, it is absolutely imperative that you find, and hire a good real estate broker, or real estate agent to list your home for sale.
The normal real estate sales commissions run between 6%-7%, but you may be able to negotiate an even lower rate.
Realtors know how to contact the masses that your home is for sale. They put your home in the MLS, Multiple Listing Service.
They contact their network of other agents, and professionals in the real estate business, or related businesses.
They can tell you exactly what your home is worth based on running comparables to your home. They can advise you on the best ways to prepare your home, and property for sale.
They can advise you on how to price your home in order to sell it quickly, and get you the most money possible.
2. Tell everyone you know that your home is for sale.
Tell friends, family, your Facebook page, if you have one, other social media outlets, your co workers, and anyone else you come across, that your home is for sale.
Everyone is a potential prospect, and even if they aren’t in the market, they may know of someone that is. You may even tell people that if they find someone that ends up buying your home, that you will give them $100 or whatever amount you think is fair.
This extra motivation may make a big difference in your getting results. Although your Realtor will be doing the heavy lifting of finding buyers, your network could bring in some very good prospects.
3. Update Your Kitchen, and Master Bath
If you really want to know how to sell your home quickly and for top dollar, DO NOT skip this step. It is no secret among Realtors that kitchens, and master bathrooms sell homes. If you don’t have a master bathroom, you should consider updating your main bathroom.
It has been my experience as a Realtor, that sellers that update their kitchens, and/or master baths/main baths, will, at the very least recover the money they spend for the updates, and usually will realize a higher price for their homes, and sell it faster, as a result.
If you had to pick one room to update, it would be the kitchen. Cabinet space, and counter space are important considerations, as well as modern appliances, center islands, dual kitchen sinks with expandable faucets, breakfast bars, and spacious pantries.
4. Open Up the Interior Space
If your home already has an open floor plan, you can skip this step. If not, and you have an older home with a more conventional floor plan, you should consider opening it up.
Many buyers today will not even look at homes that don’t have at least a partially open floor plan. Many interior walls are not load bearing, and can be eliminated fairly easily by experienced contractors.
This will provide a more modern look to the home, can make it look larger than before, and take away that suffocating feeling that too many walls can cause.
Having a kitchen that opens to a breakfast room, living room, or other space is perhaps the most important part of the home to be opened up based on buyer feedback.
Removing walls to open up interior space is normally not an inexpensive job, but, it is, more times than not, money that can be recouped in the price realized for the sale of the home.
5. Paint and Repair
A basic step to selling your home quickly and for top dollar is to paint and repair. As a Realtor, I have worked with many buyer clients. One of the first questions I ask them before we start to look at homes is, do you mind if the house needs a little work, or do you want ‘move in ready’ condition?
Almost every answer I get is, we don’t mind if it needs some work, as long as it isn’t anything major. Cosmetics are ok, paint, carpet, wallpaper, landscaping, etc. However, the home they end up buying, in most cases is ‘move in ready’, or close to it.
Most people cannot see past dirty, or outdated walls, worn carpet, ugly wallpaper, stained siding, or neglected lawns. People love ‘move in ready’, and expect to pay a premium for it!
So, if your home needs paint, paint it. If it needs new carpet, carpet it. If your hardwoods need to be refinished, refinish them. If your yard needs to be cleaned up, bushes trimmed, etc., do it. If doors, cabinets, decks, steps, or any other permanent part of your home needs repair, repair it.
Buyers, despite what they may say, picture themselves in the home they want to buy. If they can open the front door, open their suitcase, and restart their lives, that is what they want to do.
6. Your Home’s Systems Should Be Functional
Another important requirement how to sell your home quickly and for top dollar: Your home’s systems are air conditioning, heating, ventilation, roofing, electrical,, and plumbing. Any buyer with a lick of sense will have an inspection done on the home they want to buy once the offer has been accepted, and make the offer contingent on the inspection.
The purpose of the inspection is to primarily check to make sure these systems, are functional, have good life left in them, and are safe.
If the inspection reveals that one of the major systems of the home needs a major repair or replacement, it could easily cause the buyer to demand this be fixed, demand that the price is reduced to compensate, or even to withdraw completely.
I have seen some deals fall through because the buyer, and seller could not come to an agreement on what the inspection revealed about the home’s systems, and how to resolve the situation.
These systems don’t usually need to be updated, as long as they meet local codes, are functional, and serve their purpose today, and in the foreseeable future.
However, if it is apparent, that one or more of these systems is on their last leg, it is a good idea, if finances allow, to upgrade/replace these before the home is put on the market, or at least begin the process of replacement/upgrade while the home is for sale, with the promise that it will be completed before the new owner takes occupancy.
It is also a good idea to make this known to the buyers that this system will be upgraded by the time they move in.
7. Clean and Declutter
It doesn’t have to cost much money once you know how to sell your home quickly and for top dollar.
The easiest, and cheapest thing you can do to improve your chances of selling your home quickly, and for a good price, is to clean, and get rid of clutter.
I have shown homes to buyers that were so dirty, and cluttered, that I was embarrassed to even show them. It made me look bad, the listing agent look really bad, and made the homeowner look worse still.
First impressions are so important, and if your home is unkempt, or cluttered, or smells bad because of pets, or body odor, or any other reason, your chances of getting an offer go way down.
It is understandable that some sellers cannot afford to upgrade, or update the interior of the home, but anyone can afford to clean, and declutter their house, and property.
By decluttering, I mean making sure that kitchen counters are free of excess papers, and anything that would not normally be in a well organized kitchen.
Pull down unattractive wall hangings, remove items from furniture, and tables that don’t belong there. Take down letters, and attachments from refrigerators.
The more you can make your home look like it has been staged, the better. Buyers want to imagine themselves in your home.
It is also important to make sure your lawn is cut and trimmed. Trim bushes, and trees. Rake leaves if needed. Clean siding, and windows. Curb appeal is vital, and it doesn’t take a lot to make that happen.
Invest some time, and money in making your home look as updated, and appealing as possible, and with the help of a good Realtor, you will greatly increase your chances of receiving high offers in no time flat.
Now that you know how to sell your home quickly and for top dollar, it’s time to put into practice what you’ve learned.